Refer to Table 23-4. Given the consumption schedule in the table above, the marginal propensity to consume is
A) 0.5. B) 0.6. C) 0.75. D) 0.8.
B
Economics
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Why is GDP not a good measure of aggregate welfare?
A. GDP includes the value of intermediate goods B. trade between countries is not included in GDP C. GDP does not include the value of production done in the home D. the government calculates GDP
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When negative externalities are present in a market,
a. producers will be affected but consumers will not. b. producers will supply too much of the product. c. demand will be too high. d. the market will still maximize total benefits.
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